Terms with Tag Interest Rates
- Annual Percentage Rate (APR) — Acronym, Very Important,
- A yearly rate of interest that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans. In mortgages, it is the interest rate of a mortgage when taking into account the interest, mortgage insurance, and certain closing costs including points paid at closing. There is no APR in an automobile lease; instead, the cost of money is expressed as the money factor.
➥ A number used to compare costs associated with mortgage loans and other forms of financing. - Annual Percentage Rate of Charge (APRC) — Acronym,
- A yearly rate of interest that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans. In mortgages, it is the interest rate of a mortgage when taking into account the interest, mortgage insurance, and certain closing costs including points paid at closing. There is no APR in an automobile lease; instead, the cost of money is expressed as the money factor.
- Forward Rate Curve (FRC) — Acronym,
- Fully Indexed Accrual Rate (FIAR) — Acronym, Important, ➥ In relation to adjustable rate mortgage (ARMs).
- Fully Indexed Rate (FIR) — Acronym, ➥ A term used in adjustable rate mortgage (ARMs).
- High Interest Investment Account (HIIA) — Acronym,
- Prime Lending Rate (PLR) — Acronym, Very Important,
- The rate of interest charged on loans by chartered banks to their most creditworthy customers.
➥ Bank of Canada's prime (best) lending rate. - Zero Lower Bound (ZLB) — Acronym, ➥ In relation to monetary policy.
